AFI Properties Income Statement

Financials in millions ILS. Fiscal year is January - December.

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	1,087	988.53	798.27	617.06	555.5
Property Management Fees	383.77	329.7	270.29	268.49	189.34
Other Revenue	116.89	180.18	303.77	275.74	402.83
Total Revenue	1,587	1,498	1,372	1,161	1,148
Revenue Growth (YoY	5.92%	9.19%	18.17%	1.19%	21.12%
Property Expenses	544.26	520.23	612.59	592.86	567.5
Selling, General & Administrative	152.63	140.11	110.41	136.01	83.7
Other Operating Expenses	1.84	-0.79	-1.9	6.33	-2.61
Total Operating Expenses	698.72	659.55	721.1	735.2	648.59
Operating Income	888.47	838.86	651.23	426.09	499.08
Interest Expense	-645.13	-560.57	-422.1	-340.25	-251.66
Interest & Investment Income	-	74.14	50.93	35.86	26.86
Income (Loss) on Equity Investments	62.03	132.66	33.16	50.4	89.57
Currency Exchange Gain (Loss)	-	-67.29	93.29	80.07	-114.68
Other Non-Operating Income	153.78	-33.86	-201.03	-63.91	149.49
EBT Excluding Unusual Items	459.15	383.95	205.48	188.26	398.67
Gain (Loss) on Sale of Investments	-	41.92	-	86	-
Asset Writedown	715.77	420.24	58.08	472.71	542.59
Other Unusual Items	-	10.5	3	-6.63	-9.3
Pretax Income	1,175	856.6	266.56	740.33	931.96
Income Tax Expense	237.64	186.71	53.27	152.65	143.31
Earnings From Continuing Operations	937.28	669.89	213.29	587.69	788.65
Net Income to Company	937.28	669.89	213.29	587.69	788.65
Minority Interest in Earnings	-3.98	-6.59	-1.89	-2.2	-1.32
Net Income	933.3	663.3	211.4	585.49	787.34
Net Income to Common	933.3	663.3	211.4	585.49	787.34
Net Income Growth	40.71%	213.76%	-63.89%	-25.64%	4024.12%
Basic Shares Outstanding	39	38	38	38	36
Diluted Shares Outstanding	39	38	38	38	36
Shares Change (YoY)	2.93%	0.03%	0.43%	4.51%	5.58%
EPS (Basic)	24.08	17.43	5.56	15.52	21.83
EPS (Diluted)	23.83	17.43	5.56	15.46	21.73
EPS Growth	36.72%	213.56%	-64.05%	-28.85%	3803.57%
Dividend Per Share	-	-	-	-	1.380
Operating Margin	55.98%	55.98%	47.46%	36.69%	43.49%
Profit Margin	58.80%	44.27%	15.40%	50.42%	68.60%
EBITDA	894.99	844.79	655.81	430.23	503.29
EBITDA Margin	56.39%	56.38%	47.79%	37.05%	43.85%
D&A For Ebitda	6.52	5.93	4.58	4.14	4.21
EBIT	888.47	838.86	651.23	426.09	499.08
EBIT Margin	55.98%	55.98%	47.46%	36.69%	43.49%
Effective Tax Rate	20.23%	21.80%	19.98%	20.62%	15.38%

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.